The blockchain market size growth is not going to stop anytime soon. Back in 2020, its cap, valued without BTC and crypto assets, was as high as 3 billion US dollars. Around 2025, as some estimates indicate, it may reach almost 40 billions. When it comes to crypto currencies, the figures are even more impressive! In the spring of 2021, market capitalization of the Bitcoin segment alone exceeded 1100 billion USD. Right now, it is below that. However, no one can guess how high the next surge may be. As for the crypto currencies in their entirety, the market is $2.16 trillion in September 2021.
These figures and dynamics may seem too big to handle. Correspondingly, you might think that it is too late to enter this market. Such an impression would be deceptive. The chances are that we are still observing the early days of the crypto-economy, which is here to stay. That is why entering it is still a timely step. In this piece, we are going to tell you how the Everchain Software Development Kit can help you with that.
Crypto Is Easier Than You Might Assume
To begin with, if you want your business to undergo a blockchain metamorphosys and crypto-transformation — or just to strengthen its position — you can still do this in a cost-effective fashion, within a limited amount of time. Here are the arguments to support this stance:
– The most obvious step to master the blockchain wave is to integrate some cryptocurrency solutions. After all, when we say ‘blockchain’ we mean, first and foremost, next-gen fintech and payments. The TOP-10 directions in use cases encompass such fields as digital currencies, digital payments, and asset protection and transfer.
– The flow of value delivered via crypto transactions expanded significantly. So you can easily take part in it! First of all, the sheer size of the world’s BTC market associated with payments exceeded 120 million transactions.
– This is a tricky aspect. On the one hand, there are way too many digital assets to properly “absorb” all of them. Investopedia cites an interesting figure in this respect. Now, in September of 2021, there are roughly 6 500 assets of this sort. At the same time, if you want to send and receive crypto payments, as well as to store, exchange, and invest them, their circle is much more limited. 88% are covered by only TOP-10 coins, including “Bitcoin, Ethereum, Ripple, Tether, Bitcoin Cash, Bitcoin SV, Litecoin, Binance Coin, EOS, and Tezos”.
– Finally, there are more and more blockchain wallet users. As of the early months of 2021, there were approximately 70 million of them.
With these figures in mind, building or ordering a crypto solution for your business is a tinelt measure. Many companies already do so. The worldwide spending on blockchain solutions is expected to rise from 2.7 billion dollars in 2019 to 4.5 billion dollars in 2020. The year 2021 is not over yet, so it may be too early to see the following estimate as an ultimate one: however, spending on blockchain solutions is projected to reach the threshold of 6.5 billion. As for 2024, this is going to be an enormous sum of 19 billion!
It is reasonable, since business owners do admit all the benefits this new tech sector generates. For example, according to a recent survey by Deloitte, companies expect to see the following positive outcomes generated by the blockchain technology:
- Custody of digital assets with 45%
- Emergence of new payment channels with 42%
- Chance to diversify investments and portfolios with 41%
- Convenient access to decentralized finance platforms with 49%
- Tokenization capabilities for assets with 39%
- Intercompany transaction enabled better with 38%
- Automated contracts with 38%
- Enhanced interaction and transactions with end-users 37%
As for the industries that lead the trend of blockchain adoption, the first one is all about finance and banking. Manufacturing, distribution and services, the public sector as well as infrastructure are also following the trend.
Crypto Can Still Be a Challenge: But Not With Everchain SDK
The key takeaways from the previous section are as follows: modern businesses need blockchain solutions to grow and expand. At the same time, these solutions themselves are to be flexible enough to be adapted to numerous blockchains.
To address this challenge, our team created the Everchain SDK to simplify this process of growth and never-ending adaptation.
SDK stands for Software Development Kit. Such kits denote a sort of software toolbox that can be applied to several technologies, frameworks, platforms, and blockchains simultaneously. Therefore, Everchain SDK can be defined as our proprietary platform that is immediately compatible with more than 50 blockchains (i.e. not only coins but also tokens). It can also be quickly made compatible with even more of them if such a need emerges.
As an outcome, if you decide to cooperate with us, you will be in the right position to swiftly and cost-effectively develop a tool to manage numerous crypto assets and generate additional revenues with them.
Everchain SDK Tech Details
Team of Evercode Lab saw its key mission in building a comfortable gate, that may lead the user to multiple popular and promising blockchains right from the UI of your wallet. As an outcome, your wallet will get access to them with such functionalities as:
- Generating addresses to perform crypto transactions
- Checking its balance
- Viewing transaction history
- Availability of private keys
Technically, Everchain SDK is just a library developed in the JavaScript language. As such, it can easily be integrated into your wallet. Once the development is ready, your waller UI will be able to interact with dozens of nodes and block explorers.
Below you can see how it works:
As it is clear, Everchain SDK does not require any expensive work on your backend. All you need to do is to link it with your frontend. As simple as that: necessary node and block explorer URLs are already there!
Right now you can start working with AYA, BEP-2 tokens, BNB, BTC, BCH, BTG, BSV, BTH, CLO, ADA, ATOM, DASH, DCR, DGB, DOGE, EOS, ELA, ETH, ERC20 tokens, ETC, EXP, GRS, NLG, ZEN, JOYS, KIN, KMD, LSK, LTC, XLM, XMR, XEM, NEO, ONT, QTUM, RVN, RDD, ROPSTEN, TRX, USDT token, XTZ, UBQ, VET, XVG, VTC, WAVES, XRP, YEC, XZC, and ZEC. There will be many more to follow.
Finally, SDK has already proven itself with two prominent crypto wallets we helped deliver, Guarda and Atomic! If you want to find a successful path to the crypto world with your own advanced IT solution, contact the Evercode Lab team and unleash the Everchain SDK potential.
